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Thursday, 27 May 10
DRY BULK RATES REACH 2010 HIGHS, BUT FUTURE REMAINS UNCERTAIN
 This week is proving to be a milestone for the dry bulk market, as the Baltic Dry Index has propelled itself at never before seen levels for 2010. Yesterday, the BDI edged up even higher at 4,209 (+ 22 points on a daily basis), with the Capesize market segment once again leading the pack, as all other ship types demonstrated deflationary trends. Still, after the impressive increase of Tuesday, yesterday proved a rather moderate session, with few fluctuations, in what could be a sign that charterers have tested their strength and aren’t willing to push the market any further. Thus, some market correction could be in store in the following days.
In yesterday’s weekly report, Fearnley’s said that capesize rates went through the roof. “Early this week, FFA values for June were USD 51,500 vs. mid last week USD 37,000, one of the main drivers for the physical market. The freight for Australia round voyage jumped from USD 12.1 last week to USD 14.2 mid this week, Tubarao Qingdao from USD 29.9 to 34.4! Although some talks about the market appearing more toppish now - nobody dares to say we are presently on the top. It is also interesting to note last year’s jump around this time, the 21st of May the index was USD 40,000 vs. USD 93,000 the 3rd of June”.
Commenting on a lackluster panamax segment, the shipbroker said that “as expected and despite the strong re bounce in the Cape segment, the Panamax market gradually lost some of its momentum over the last few days. In the Atlantic prompt Continent positions are still able to secure very healthy numbers in the mid/upper 40´s, whereas Charterers with June requirements may not be so tight on tonnage. Front haul typically in the mid/high 40´s range apart from spot trips via Aden as a Baltic-India buiz done at 60K. The Pacific market has consolidated around the low 30.000 level for NOPAC and ECSA rounds. The period market is still fairly active indicating the market may believe the downside is limited” said Fearnley’s.
In a market comment released this week, Jeffrey Landsberg of Commodore Research said that he remains cautious for what is in store for the future and there is valid concern that freight rates may come under great pressure in the second half of the year. “With that in mind, though, we continue to take things one step at a time, as there will continue to be opportunities to benefit from changes in short-term market dynamics, as we have seen in the dry bulk equity, FFA, and physical markets in the last few weeks”. According to Commodore’s analysis, approximately 100 capesize vessels were delivered in 2009, about 66% of what was expected to be delivered back in July 2008. “Capesize freight rates averaged approximately $43,000 in 2009. This year, approximately 45 Capes were delivered in the first quarter of this year with more delivered each week. On an annualized basis that's 180 Cape deliveries for 2010. At the time of writing, however, Capesize freight rates are averaging $48,248/day - well above operating costs and historically a very robust rate” said Landsberg.
In the short-term though, Chinese demand for thermal coal is expected to remain robust as China enters peak summer demand season and the economy continues to expand at a rapid pace. In addition, the commencement of Indian monsoon season will result in China needing to import more iron ore from Australia and Brazil which will lend additional support to Capesize freight rates. A decrease in Indian iron ore exports, which are normally carried on Supramax and Panamax vessels, will be partially offset by an increase in Chinese grain imports. Overall, dry bulk cargo demand is in a bit of a lull, but thermal coal and grain demand remain robust and iron ore demand is still firm.
Source: Nikos Roussanoglou, Hellenic Shipping
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Saturday, 02 October 10
FOUR INDONESIAN COAL FIRMS KEEN TO TIE UP WITH NALCO - SIFY
Sify reported that, Four Indonesian coal companies have shown interest to tie up with public sector National Aluminium Company (Nalco) for its 4 bil ...
Friday, 01 October 10
COAL TRADERS POWER FOREIGN ASSET BUYS - ECONOMIC TIMES
Economic Times reported that, the rush to own coal assets is leading to innovative alliances. are teaming up with utilities like , Reliance Power an ...
Thursday, 30 September 10
LOW CALORIFIC VALUE COAL MAY BE SOLD BELOW COAL REFERENCE PRICE IN INDONESIA
COALspot.com: Indonesia, the world’s largest coal exporter has issued another ministerial decree to regulate the selling price of coal of Indo ...
Thursday, 30 September 10
INITIAL PHASE OF MOATIZE MINING BY EARLY NOVEMBER - ALL AFRICA
All Africa report that, the initial phase of mining coal at Moatize, in the western Mozambican province of Tete, will begin by early November, and t ...
Thursday, 30 September 10
THE PANAMAX CONTINUED ITS DOWNWARD TREND FROM LAST WEEK - FEARNBULK
HANDY
Activity remains slow this week combined with a lack of fresh enquiry and tonnage over-supply in the Atlantic. Indexes are all negative exce ...
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- Cement Manufacturers Association - India
- Straits Asia Resources Limited - Singapore
- IHS Mccloskey Coal Group - USA
- IEA Clean Coal Centre - UK
- PowerSource Philippines DevCo
- Bukit Asam (Persero) Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- Orica Australia Pty. Ltd.
- Indian Energy Exchange, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Port Waratah Coal Services - Australia
- McConnell Dowell - Australia
- Sinarmas Energy and Mining - Indonesia
- Oldendorff Carriers - Singapore
- Gujarat Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Baramulti Group, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- European Bulk Services B.V. - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement PLC, Thailand
- Rashtriya Ispat Nigam Limited - India
- Australian Commodity Traders Exchange
- Mercuria Energy - Indonesia
- Vedanta Resources Plc - India
- Larsen & Toubro Limited - India
- Edison Trading Spa - Italy
- Energy Development Corp, Philippines
- Sree Jayajothi Cements Limited - India
- AsiaOL BioFuels Corp., Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Anglo American - United Kingdom
- Bulk Trading Sa - Switzerland
- Sakthi Sugars Limited - India
- Ministry of Transport, Egypt
- Videocon Industries ltd - India
- Latin American Coal - Colombia
- Kalimantan Lumbung Energi - Indonesia
- Uttam Galva Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- Xindia Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- Renaissance Capital - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Miang Besar Coal Terminal - Indonesia
- PTC India Limited - India
- Pendopo Energi Batubara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CNBM International Corporation - China
- Meralco Power Generation, Philippines
- Madhucon Powers Ltd - India
- Trasteel International SA, Italy
- Samtan Co., Ltd - South Korea
- Thai Mozambique Logistica
- Meenaskhi Energy Private Limited - India
- Parry Sugars Refinery, India
- Sical Logistics Limited - India
- Makarim & Taira - Indonesia
- New Zealand Coal & Carbon
- Tata Chemicals Ltd - India
- Riau Bara Harum - Indonesia
- Parliament of New Zealand
- Ceylon Electricity Board - Sri Lanka
- OPG Power Generation Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Alfred C Toepfer International GmbH - Germany
- Commonwealth Bank - Australia
- Kapuas Tunggal Persada - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- Manunggal Multi Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- The Treasury - Australian Government
- CIMB Investment Bank - Malaysia
- Vizag Seaport Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- Star Paper Mills Limited - India
- Orica Mining Services - Indonesia
- Bhushan Steel Limited - India
- Independent Power Producers Association of India
- Wilmar Investment Holdings
- Cigading International Bulk Terminal - Indonesia
- VISA Power Limited - India
- GAC Shipping (India) Pvt Ltd
- SMG Consultants - Indonesia
- TeaM Sual Corporation - Philippines
- Energy Link Ltd, New Zealand
- Globalindo Alam Lestari - Indonesia
- Minerals Council of Australia
- Indonesian Coal Mining Association
- Directorate Of Revenue Intelligence - India
- Krishnapatnam Port Company Ltd. - India
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Finance - Indonesia
- The University of Queensland
- Aditya Birla Group - India
- GMR Energy Limited - India
- Posco Energy - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Malabar Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- Mintek Dendrill Indonesia
- Bukit Baiduri Energy - Indonesia
- Altura Mining Limited, Indonesia
- Bhatia International Limited - India
- Price Waterhouse Coopers - Russia
- Dalmia Cement Bharat India
- San Jose City I Power Corp, Philippines
- Goldman Sachs - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Indo Tambangraya Megah - Indonesia
- Heidelberg Cement - Germany
- Banpu Public Company Limited - Thailand
- LBH Netherlands Bv - Netherlands
- Kobexindo Tractors - Indoneisa
- Global Business Power Corporation, Philippines
- MS Steel International - UAE
- Kaltim Prima Coal - Indonesia
- Central Electricity Authority - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Timah Investasi Mineral - Indoneisa
- Medco Energi Mining Internasional
- India Bulls Power Limited - India
- Kepco SPC Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- The State Trading Corporation of India Ltd
- Simpson Spence & Young - Indonesia
- Semirara Mining Corp, Philippines
- Bangladesh Power Developement Board
- Antam Resourcindo - Indonesia
- White Energy Company Limited
- Karaikal Port Pvt Ltd - India
- Africa Commodities Group - South Africa
- Billiton Holdings Pty Ltd - Australia
- Georgia Ports Authority, United States
- Rio Tinto Coal - Australia
- Sarangani Energy Corporation, Philippines
- Barasentosa Lestari - Indonesia
- SMC Global Power, Philippines
- Therma Luzon, Inc, Philippines
- Grasim Industreis Ltd - India
- Eastern Energy - Thailand
- Electricity Authority, New Zealand
- Power Finance Corporation Ltd., India
- Salva Resources Pvt Ltd - India
- London Commodity Brokers - England
- Metalloyd Limited - United Kingdom
- Coastal Gujarat Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Lanco Infratech Ltd - India
- Merrill Lynch Commodities Europe
- Bayan Resources Tbk. - Indonesia
- Ind-Barath Power Infra Limited - India
- Ambuja Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- Indogreen Group - Indonesia
- Eastern Coal Council - USA
- Neyveli Lignite Corporation Ltd, - India
- Deloitte Consulting - India
- Bhoruka Overseas - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Java Power - Indonesia
- SN Aboitiz Power Inc, Philippines
- Australian Coal Association
- Indian Oil Corporation Limited
- Economic Council, Georgia
- Kideco Jaya Agung - Indonesia
- Coal and Oil Company - UAE
- Interocean Group of Companies - India
- Electricity Generating Authority of Thailand
- Gujarat Mineral Development Corp Ltd - India
- Iligan Light & Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Singapore Mercantile Exchange
- Essar Steel Hazira Ltd - India
- Romanian Commodities Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Mjunction Services Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- South Luzon Thermal Energy Corporation
- Kumho Petrochemical, South Korea
- Chamber of Mines of South Africa
- Planning Commission, India
- Binh Thuan Hamico - Vietnam
- Wood Mackenzie - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement - Thailand
- Indika Energy - Indonesia
- ICICI Bank Limited - India
- Bharathi Cement Corporation - India
- Standard Chartered Bank - UAE
- Ministry of Mines - Canada
- Attock Cement Pakistan Limited
- Thiess Contractors Indonesia
- Petron Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- ASAPP Information Group - India
- Agrawal Coal Company - India
- Tamil Nadu electricity Board
- Gujarat Sidhee Cement - India
- Semirara Mining and Power Corporation, Philippines
- Borneo Indobara - Indonesia
- GVK Power & Infra Limited - India
- Formosa Plastics Group - Taiwan
- Mercator Lines Limited - India
- Bukit Makmur.PT - Indonesia
- Marubeni Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Coalindo Energy - Indonesia
- Sojitz Corporation - Japan
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